Pure Storage, Inc. (NYSE:PSTG)‘s stock had its “positive” rating reiterated by analysts at Susquehanna Bancshares Inc in a report issued on Thursday. They currently have a $20.00 target price on the technology company’s stock, up from their prior target price of $18.00. Susquehanna Bancshares Inc’s price target suggests a potential upside of 26.90% from the stock’s previous close.

A number of other analysts have also commented on PSTG. BidaskClub lowered shares of Pure Storage from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. Robert W. Baird restated a “hold” rating and set a $14.00 price target on shares of Pure Storage in a research note on Wednesday, June 14th. Morgan Stanley restated an “equal weight” rating and set a $13.00 price target (up previously from $12.00) on shares of Pure Storage in a research note on Wednesday, June 14th. BMO Capital Markets reaffirmed a “buy” rating on shares of Pure Storage in a report on Wednesday, June 14th. Finally, Vetr raised shares of Pure Storage from a “buy” rating to a “strong-buy” rating and set a $15.50 price objective on the stock in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $15.95.

Shares of Pure Storage (NYSE:PSTG) traded up 0.89% on Thursday, reaching $15.90. 580,423 shares of the company traded hands. Pure Storage has a one year low of $9.12 and a one year high of $16.35. The firm has a 50-day moving average price of $14.59 and a 200 day moving average price of $12.55. The company’s market capitalization is $3.36 billion.

Pure Storage (NYSE:PSTG) last announced its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.20. The business had revenue of $224.50 million during the quarter, compared to analyst estimates of $217.97 million. Pure Storage had a negative net margin of 29.55% and a negative return on equity of 46.12%. Pure Storage’s quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) EPS. Equities analysts forecast that Pure Storage will post ($0.22) EPS for the current fiscal year.

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In other news, CFO Timothy Riitters sold 5,000 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $14.56, for a total transaction of $72,800.00. Following the sale, the chief financial officer now directly owns 282,200 shares in the company, valued at $4,108,832. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President David Hatfield sold 30,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $14.66, for a total value of $439,800.00. Following the sale, the president now owns 215,190 shares in the company, valued at $3,154,685.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,000 shares of company stock worth $2,363,950. Company insiders own 46.58% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of Pure Storage by 480.2% during the first quarter. Renaissance Technologies LLC now owns 1,284,000 shares of the technology company’s stock valued at $12,622,000 after buying an additional 1,062,700 shares during the period. Marcus Capital LLC increased its position in shares of Pure Storage by 57.6% during the second quarter. Marcus Capital LLC now owns 231,500 shares of the technology company’s stock valued at $2,966,000 after buying an additional 84,600 shares during the period. AO Asset Management LLC bought a new stake in shares of Pure Storage during the second quarter valued at about $12,170,000. First Trust Advisors LP bought a new position in shares of Pure Storage in the first quarter worth approximately $135,000. Finally, Retirement Systems of Alabama bought a new position in shares of Pure Storage in the second quarter worth approximately $4,484,000. Hedge funds and other institutional investors own 35.30% of the company’s stock.

About Pure Storage

Pure Storage, Inc provides a data platform. The Company is focused on delivering software-defined all-flash solutions that are fast and cloud-capable for customers, enabling customers to put data to work for their businesses. Its data platform replaces storage systems designed for mechanical disk with all-flash systems optimized end-to-end for solid-state memory.

Analyst Recommendations for Pure Storage (NYSE:PSTG)

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